A Taiwanese man jumped from the 13th floor to his death after his $2m in LUNA turned into $1k. This is the first verified account (from prosecutors in Taipei) of a suicide directly caused by Terra. Harrowing - this life is gone and will never come back.https://www.taiwannews.com.tw/en/news/4551502
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I guess I am heartless, but every single one of us knows crypto is inherently risky & Luna/Anchor was a megaplier on that. If you put so much money into something that if you lost it all you'd feel driven to suicide, putting it in crypto is 100% a failing on you, not the crypto
You aren't heartless. This is a common sentiment. I see your view. Would you, perhaps, posit a different opinion if, hypothetically, it was revealed that the structural risk wasn't natural/visible market risk, but malicious manipulation and insider cashouts at a grand scale?
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I agree, there is a difference between losing on a wrong investment, leverage, not having a setup and holding the trade, but when you know you lost by manipulation of the market, a planned coup, that made the big rich and bankrupted the small ones, that has another weight.
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I lost Sandbox $65K recently, but it was my operation's fault, I am a family man and I work in a company and I will have to go after it to recover but I have been following the work to show how rotten Luna is, how much has been manipulated and damaged lives and families.
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1/ Nope. Crypto is practically synonymous w rug pulls, frauds & scams. Look at all the fake replies on any reply to a Terra tweet offering fraudulent support. Who could follow Do's tweets over the last year & not assume shady stuff was happening behind the scenes?
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So no that doesn't really change my view. My PSA to all reading this: Do not invest all of your life's money into something you don't fully understand, whether "all" is 1k, 10k, or 2mil. Especially if its crypto offering 20% APY. 2/2
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I wonder how robust Luna v2 will be
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and now nobody trust crypto anymore
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I work for a big O+G Corp, lots of employee benefits are paid on stock options. At the start of covid, comp. Stock dropped from $60/share to 14. Dividends dropped 60% as well. Lots of people retiring that year had most of their plans shut down by losing 80%+
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This was considered for years to be a 100% safe bet. Oil futures went to 0 Invest what you can afford to lose, be ready to lose everything at any time
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If something is too good to be true it usually is. This has helped me several times in crypto. I did invest in Luna and had some UST in anchor but never too much because you never know. Also there was a lot of information about Terra and risks before this happened.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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I'm somewhat sick of hearing crypto has 100% risk, the underlying issues surrounding internal trading, is not just a risk but it should be deemed illegal because it harms the small players and does not allow an equal playing field. It can't operate like the wild west.
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You don’t need loads of money to make money in crypto…you just have to be a little smart, not much
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